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A researcher for a travel company is looking into the prices people are willing to pay for airplane tickets. The company has communicated that the overall population mean is $265 with a standard deviation of $40.93. The researcher has a sample of 130 ticket purchases from one location.
By the central limit theorem, which interval can the researcher be 95% certain that the sample mean will fall within?

Select the correct answer A researcher for a travel company is looking into the prices people are willing to pay for airplane tickets The company has communicat class=

Respuesta :

From the central limit theorem, the interval can the researcher be 95% certain that the sample mean will fall within A. $257.82 and $272.18.

How to use the Central limit theorem?

We are given;

Population Mean; μ = $265

Population standard deviation; σ = $40.93

Sample size; n = 130

The central limit theorem (CLT) postulates that the distribution of sample mean approximates a normal distribution with larger sample sizes, disregarding the population's distribution.

This implies that sample sizes equal to or greater than 30 are often considered sufficient for the Central limit theorem to hold.

Thus, by the central limit theorem, the interval can the researcher be 95% certain that the sample mean will fall within A. $257.82 and $272.18.

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